According to the Chinese Cities of Opportunity 2017 study report jointly launched by the China Development Research Foundation (CDRF) and PwC, March 17, Guangzhou, Shenzhen, Hangzhou, Wuhan and Nanjing are ranked as the overall top five cities.
The report states that technological innovation and balanced development are the keys to building "cities of opportunity".
Guangzhou and Shenzhen, benefiting from their balanced development, take the first and second place respectively in our overall rankings, while Hangzhou ranks third, owing to its technological advantage.
The latest report looks at 28 cities in China, up from 24 last year. Four editions of the Chinese Cities of Opportunity report have been published since 2014.
PwC indicated that these five cities all rank in the top five places in more than four indicators, clearly highlighting the importance of balanced and comprehensive urban development.
As the host city of 2017 Fortune Global Forum, Guangzhou has been gaining much attention from mainstream media overseas, especially US mainstream media recently. Simultaneously, a short 30 seconds video is being played on the screen at Times Square in New York.
Further, the report finds the top cities in intellectual capital and innovation and technological readiness also achieve high scores in the overall ranking, a clear indication that technologically advanced cities are more likely to earn the title of “Cities of Opportunity”. In addition, the top ranking cities typically perform poorly in cost and culture and lifestyle. China’s “Cities of Opportunity” continue to face challenges when it comes to building liveable cities that satisfy the needs of its city dwellers and providing a high quality of life.
PwC China Public Policy and Regulatory Affairs Leader and Beijing Senior Partner David Wu adds, “Chinese large and medium cities, as represented by Guangzhou and Shenzhen, have entered the Urban Development 2.0 era, where technological innovation and balanced development are the keys. From investor’s perspectives, the introduction of new technologies, attracting and developing talents, improving innovation capabilities, achieving balanced development and providing cities with truly valuable solutions are ways to seize new opportunities arising from future urban development.”
